Forfeitable - Law Dictionary Search Results
Home Dictionary Name: forfeitableforfeit
forfeit [Anglo-French, from Middle French forfait, past participle of forfaire to commit a crime, from fors outside + faire to do] : something forfeited or subject to being forfeited vt 1 : to lose or lose the right to by some default, failure, or neglect of obligation or duty or by some offense [shall to the United States…any proceeds which the person obtained, directly or indirectly, from racketeering activity "U.S. Code"] 2 : to subject to forfeiture [it shall be placed in the custody of the Collector, who…shall cause a notice of the seizure and intention to and sell the same "Morgan v. United States, 107 F. Supp. 501 (1952)"] for·feit·abil·i·ty [fȯr-fə-tə-bi-lə-tē] n for·feit·able adj adj : forfeited or subject to forfeiture ...
Shall be forfeited
Shall be forfeited, means liable to be forfeited, depending on the setting and the sense of the statute, R.S. Joshi v. Ajit Mills Ltd., AIR 1977 SC 2279: (1977) 4 SCC (98)....
To forfeit
To forfeit, Black's Legal Dictionary states that 'to forfeit' is 'to lose, or lose the right to, by some error, fault, offence or crime', 'to incur a penalty'. 'Forfei-ture', as judicially annotated, is 'a punishment annexed by law to some illegal act or negligence', something imposed as a punishment for an offence or delinquency'. The word, in this sense, is frequently associated with the word 'penalty'. According to Black's Legal Dictionary, The terms 'fine', 'forfeiture', and 'penalty', are often used loosely, and even confusedly; but when a discrimination is made, the word 'penalty' is found to be generic in its character, including both fine and forfeiture. A 'fine' is a pecuniary penalty, and is commonly (perhaps always) to be collected by suit in some form. A 'forfeiture' is a penalty by which one loses in rights and interest in his property, R.S. Joshi v. Ajit Mills Limited, AIR 1977 SC 2279: (1977) 4 SCC 98: (1978) 1 SCR 338....
Bonded labour system
Bonded labour system, means the system of forced, or partly forced, labour under which a debtor enters, or has, or is presumed to have, entered, into an agreement with the creditor to the effect than,-(i) in consideration of an advance obtained by him or by any of his lineal ascendants or descendants (whether or not such advance is evidenced by any document) and in consideration of the interest, if any, due on such advance, or(ii) in pursuance of any customary or social obligation, or(iii) in pursuance of an obligation devolving on him by succession, or(iv) for any economic consideration received by him or by any of his lineal ascendants or descendants, or(v) by reason of his birth in any particular caste or community,- he would-(1) render, by himself for through any member of his family, or any person dependent on him, labour or service to the creditor, or for the benefit of the creditor, for a specified period or for an unspecified period, either without wages or for nominal wages, o...
Earnest money
Earnest money, The earnest money is a part of the purchase price when the transaction gets through and the same is forfeited when the transaction falls through by reason of the default or failure on the part of the vendee, H.U.D.A. v. Kewal Krishan Goel, (1996) 4 SCC 249: AIR 1996 SC 1981.The earnest money is part of the purchase price when the transaction goes forward and it is forfeited when the transaction falls through, by reason of the fault or failure of the purchase. Earnest money or deposit serves two purposes of being part-payment of the purchase money and security for the performances of the contract by the party concerned, who paid it. (AIR 1926 PC 1), Videocon Properties Ltd. v. Bhalchandra Laboratories, (2004) 3 SCC 711: AIR 2004 SC 1787 (1793). [Transfer of Property Act, 1882, s. 55(6)(b)]A deposit paid (usu in escrow) by a prospective buyer (esp. of real estate) to show a good faith intention to complete the transactions and ordinarily forfeited if the buyer default, Bla...
Forfeitable
Liable to be forfeited subject to forfeiture...
Steward of manor
Steward of manor, the lord's deputy, who transacts all the legal and other business connected with the estate, and takes care of the Court-rolls. The office is usually held by the lord's solicitor. The office has been deprived of much of its importance in consequence of the abolition of copyhold tenure by the (English) Law of Property Act, 1922 (see COPYHOLDS). The scale of compensation to the steward of the manor if he was appointed before the 29th June, 1922, is provided for by the 14th Sch. of the (English) Law of Property Act, 1922, and see the (English) L.P. (Amendment) Act, 1924. See also the (English) L.P. Act, 1922, and the (English) Enfranchised Land (Stewards' Fees) Regulations, S.R. & O., 1926, No. 3, as to fees payable to stewards upon extinguishment of manorial incidents and upon the compulsory production of assurance of former copyholds to him. Upon a vacancy for three months in the office and on other occasions the Lord Chancellor may upon default of the lord of the mano...
Uses
Uses (History). A use is the intention or purpose, express or implied, upon which property is to be held. The Common Law treated the actual possessor for all purposes as the owner of the property. It was not difficult to find him out, since the possession of his estate was conferred upon him by a formal and notorious ceremony, technically called livery of seisin, which was performed openly and in the presence of the people of the locality.It soon became evident that the simple rules of the Common Law were stumbling-blocks to the complicated wants of an enterprising people.Hence ingenuity was sharpened to hit upon a device which should set at nought the rigidity of existing law and formalities.A system was found by the monastic jurists upon a model furnished by the Civil Law, which, by a nice adaptation, evaded, without overturning, the Common Law. Two methods of transferring realty began to co-exist in this country-the ancient Common Law system, and the later invention, which is denomi...
Copyhold
Copyhold. Tenure in copyhold has been abolished under the (English) L.P. Acts, 1922 and 1925, and the Amending Acts of 1924 and 1926, but the greater part of the former title on this subject has been retained verbatim in view of the importance of the subject in examining titles. In the previous edition of this work, copyhold was described as a base tenure founded upon immemorial custom and usage; its origin is undiscoverable, but it is said to be the ancient villeinage modified and changed by the commutation of base services into specified rents, either in money or money's worth.A copyhold estate is a parcel of the demesnes of a manor held at the lord's will, and according to the custom of such manor. The tenant may have the same quantities of interest in this tenure as he may enjoy in freeholds, as an estate in fee-simple or (by particular custom) fee-tail, or for life, and he may have only a chattel interest of an estate for years in it. By the custom of some manors, the estate devol...
Forfeiture of shares
Forfeiture of shares. The number of shares forfeited by a limited company must be stated in the annual return (Companies Act, 1929, ss. 106, 110), and see Articles 23 to 29 of Table A., which enable directors to forfeit shares of a member failing to pay calls or instalments or any other sum payable in respect of a share, see Hopkinson v. Mortimer, Harley & Co., (1917) 1 Ch 646....
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